Economic Survey Highlights 
Finance minister Pranab Mukherjee presenting the 13th Finance Commission today in Lok Sabha. Here you will get minute by minute LIVE update of the event:
ECONOMIC SURVEY 2009-10 & Recommendation of 13th Finance Commission
Finance minister Pranab Mukherjee presenting the 13th Finance Commission today in Lok Sabha. Here you will get minute by minute LIVE update of the event:
ECONOMIC SURVEY 2009-10 & Recommendation of 13th Finance Commission
- Economic survey optimistic on growth
- Current fuel prices not fiscally sustainable
- expenditure control needed to control deficit
- Power, coal seeing a revival
- Infra capacity need to be accelerated
- Expect revenues of Rs 820 to 850 Crs in FY10
- Timely off-loading of food stocks need urgent attention
- Rationalise port service charges
- Lower peak custom duty to 7.5% from 10%
- Monetary measures must ensure credit growth
- Lower than budgeted non taxed revenue expected
- Medium term prospects of Indian economy really strong
- Major decline in consumption expenditure growth in FY10
- To give higher share to states despite fiscal strain
- States to get 1.5% more: Pranab
- To compensate states on revenue loss when GST rolled out
- Local bodies to also get share of central taxes
- Accepted major recommendations of 13th Financial Panel
- Food inflation is at present hovering close to 18%
- Direct food subsidy via food coupons to households
- Survey favours making available food in open market
- Survey favours monthly ration coupons usable anywhere for poor
- Fiscal deficit may be cut to 5.5%
- Gas output up 52.8 per cent to 50.2 billion cubic meters with RIL starting production
- Trade gap narrowed to USD 76.24 bn in April-December
- India 10th largest gold holding nation at 557.7 tonnes
- Large decline in customs, excise expected
- Tighten FRBM clauses for future relaxations
- Overall revenue transfers to state at 39.5%
- Services sector growth rate at 8.7%
- Virtually every second Indian has access to phone
- Fundamental policy changes needed for trade
- Wants credit available at reasonable rates on time for private sector to invest in agriculture
- Small shortfall in revenue recept in FY10
- Overall farm GDP decline of 0.2% in FY10
- Investment growth still below GDP growth rate
- India not immune to global prices
- Auction for 3G spectrum to provide existing and foreign players to bring in new technology and innovations
- India world's 2nd largest wireless network with 525.1 million mobile users
- Slowdown in infrastructure that began in 2007, arrested
- Government initiates steps to boost private investment in agriculture
- Credit needed for private investment in agriculture
- Imports in April-December 2009 down 23.6 per cent
- Exports in April-December 2009 down 20.3 per cent
- Gross fiscal deficit pegged at 6.5 pc of GDP in 2009-10
- Favours making available food in open market
- Hype on Kharif crop failure helped hoarding
- Poor rainfall stopped prices falling
- Delay in releasing imported sugar pushed up prices
- Farm and allied sector production falls 0.2 per cent in 2009-10
- Rising food inflation a major concern
- Growth in private investments
- Growth has to quicken
- Watch and withdraw stimulus
- Risks of double dip recession seen
- Economy likely to grow up to 8.75%
- Inflation may spread, warns survey
- V-shaped recovery seen
- Economic recovery weak
- India's GDP growth rate in 2009-10 was 7.2%
- India's GDP to return 9% in 2011-12
- High double digit food inflation in 2009-10
- Possible spurt in global commodity
- India can become world's fastest growing nation in 4 years
- Hike in fuel prices will impact inflation
- Pranab tables economic survey in Parliament
- The fiscal deficit for the current fiscal year is expected to shoot up to 6.8% of GDP
- The economic survey is expected to project around 7.5% growth rate for the current fiscal
- Finance Minister Pranab Mukherjee to table the Economic Survey in Parliament today
